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Anglo African Agriculture fiscal H2 loss widens 13.1% YOY

Anglo African Agriculture Plc said its normalized net income for the fiscal second half ended Oct. 31, 2015, came to a loss of £181,200, compared with a loss of £160,210 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 34.8% on an annual basis to £564,830 from £865,990, and total operating expenses decreased 25.9% year over year to £770,070 from £1.0 million.

Reported net income came to a loss of £289,920, or a loss of 0 pence per share, compared to a loss of £256,330, or a loss of 0 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled £243,470, compared with a loss of £-220,940 in the prior year.

Full-year total revenue increased 44.3% year over year to £1.2 million from £865,990, and total operating expenses grew 36.4% year over year to £1.6 million from £1.1 million.

The company said reported net income came to a loss of £389,550, or a loss of 0 pence per share, in the full year, compared with a loss of £353,510, or a loss of 0 pence per share, the prior year.